Compute the mean and standard deviation

Assignment Help Basic Statistics

Reference no: EM131010221

Consider a large ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let x and y denote the number of cars and buses, respectively, carried on a single trip. Cars and buses are accommodated on different levels of the ferry, so the number of buses accommodated on any trip is independent of the number of cars on the trip. Suppose that x and y have the following probability distributions:

x	0	1	2	3	4	5
p(x)	.05	.10	.25	.30	.20	.10
y	0	1	2
p(y)	.50	.30	.20

a. Compute the mean and standard deviation of x.

b. Compute the mean and standard deviation of y.

c. Compute the mean and variance of the total amount of money collected in tolls from cars.

d. Compute the mean and variance of the total amount of money collected in tolls from buses.

e. Compute the mean and variance of z = total num- ber of vehicles (cars and buses) on the ferry.

f. Compute the mean and variance of w = total amount of money collected in tolls.

Reference no: EM131010221

Questions Cloud

How certain types of leadership : You will produce a written report that critically assesses and evaluates your company and it's leadership using Value Systems Theory (vMEME) and all the leadership theories it contains.

Mean and standard deviation : The article indicated that 500 FBI agents were required to take a polygraph test. Consider the random variable x = number of the 500 tested who fail. If all 500 agents tested are trustworthy, what are the mean and standard deviation of x?

Is it reasonable to conclude that watching oprah causes : Based on a survey conducted on the DietSmart.com web site, investigators concluded that women who regu- larly watched Oprah were only one-seventh as likely to crave fattening foods as those who watched other daytime talk shows (San Luis Obispo Tr..

National cyber security alliance : In a press release dated October 2, 2008, The National Cyber Security Alliance reported that approxi- mately 80% of adult Americans who own a computer claim to have a firewall installed on their computer to prevent hackers from stealing personal i..

Compute the mean and standard deviation : a. Compute the mean and standard deviation of x. b. Compute the mean and standard deviation of y. c. Compute the mean and variance of the total amount of money collected in tolls from cars.

Interest to the furniture manufacturer : Why would the random variable y, defined as y 5 x2 2 x1, be of interest to the furniture manufacturer? What is the mean value of the random variable y? Assuming that x1 and x2 are independent, what is the standard deviation of y?

Discuss the four components of cultural encapsulation : Identify and briefly discuss the four components of cultural encapsulation. Identify which one would be most difficult for you to overcome, why

Find the variance and standard deviation : a. Find the mean value of x (the mean number of systems sold). b. Find the variance and standard deviation of x. How would you interpret these values? c. What is the probability that the number of systems sold is within 1 standard deviation of its me..

What is happening in the markets today : Relate your thoughts to the fundamental "valuation" concepts discussed in the readings for bonds and stocks.

User Account

All Pages